BP Profit Hits 18-Year High as Oil Refining Margins Surge

BP Plc reported third-quarter profit of $8.5 billion, the highest in 18 years, driven by increased refining margins, according to CNBC. Chief Executive Officer Meg O'Neill attributed the results to strong refining performance in what she called a "banner quarter," Bloomberg reported. O'Neill told Bloomberg Television that refining margins are expected to soften in the fourth quarter.

• Bloomberg — BP Profit Hits 18-Year High as Oil Refining Margins Surge
• Bloomberg — BP's Refining Business Had a 'Banner Quarter,' CEO Says
• CNBC — BP’s third-quarter profit nearly quadruples to $8.5 billion as refining margins surge

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